Cable Hill Partners LLC Invests $211,000 in ResMed Inc. (NYSE:RMD)

Cable Hill Partners LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 865 shares of the medical equipment provider’s stock, valued at approximately $211,000.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in ResMed in the 2nd quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new position in ResMed in the 3rd quarter valued at approximately $34,000. Versant Capital Management Inc lifted its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new position in ResMed in the 2nd quarter valued at approximately $37,000. Finally, Blue Trust Inc. lifted its position in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research analyst reports. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, KeyCorp increased their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

Insider Activity at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. The trade was a 7.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,056 shares of company stock valued at $15,086,020. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Down 1.7 %

Shares of ResMed stock opened at $231.43 on Friday. The firm has a 50-day simple moving average of $243.30 and a two-hundred day simple moving average of $223.37. The company has a market cap of $33.97 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $147.31 and a fifty-two week high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 earnings per share. As a group, equities analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.92%. ResMed’s dividend payout ratio is presently 28.08%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.